In addition to the event that the US announced CPI yesterday (September 13, 2022), there is also an exciting event in the crypto world this week.
Around the middle of the week, expected to be from September 13-15, the second largest coin in the market is Ethereum (ETH) which will trigger its most important upgrade in history, called The Merge.
For those who do not know, The Merge is the event in which Ethereum’s Proof-of-Work (PoW) chain will be merged into the Proof-of-Stake (PoS) chain and in the immediate future, this event will eliminate mining activity, reduce the number of new coins generated and cut more than 99% of the electricity consumed by the network.
When successful, The Merge will help the entire Ethereum network operate under the PoS. It is estimated that The Merge will help reduce the inflation of ETH from 4%/year to only 1%/year. This will be one of the significant bull cases of ETH.
In addition, the success of The Merge will make the community more FOMO about the future of Ethereum, thereby creating a buy demand, which is combined with staking demand. It will create more push for increasing ETH’s price.
Besides, one of the main beneficiaries of The Merge’s success will be projects on Ethereum. When transaction costs are cheaper and transaction speeds are faster, users will return to DeFi, GameFi and NFT projects on Ethereum, thereby creating new money flow in the ecosystem, bringing both projects and Ethereum itself to grow.
And on September 10th, Google Cloud developer (Sam Padilla) announced that the countdown timer for Ethereum’s The Merge event went into operation in Google’s search engine. Searches for the keyword “Ethereum Merge” will now show users a countdown timer along with hashrate, ETH mining difficulty, and current merge difficulty.
The addition from Google shows that The Merge’s popularity is no longer in the crypto’s “territory” but is expanding beyond traditional global finance.
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